Streetbeat News

Regulatory

SPY

In a Fox Business interview, U.S. Treasury Secretary Yellen expressed regret for previously describing inflation as transitory and anticipates the primary contributor to inflation will decrease this year.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:45 pm

CMPS

CYBN

MNMD

Cybin Inc. (NYSE:CYBN) received FDA Breakthrough Therapy designation for CYB003, a psilocybin analog for Major Depressive Disorder (MDD), following positive Phase 2 results. This marks a significant step in psychedelic-based treatments for mental health, alongside similar designations for MindMed's LSD-derived treatment and Compass Pathways' psilocybin therapy. Cybin also announced a $150M private placement to fund Phase 3 development of CYB003.

Portfolio Pulse from Lara Goldstein

March 13, 2024 | 3:33 pm

GOOG

GOOGL

MSFT

Alphabet Inc's Google faces criticism for its AI system, Gemini, due to quality issues and biases. The launch was rushed to compete with OpenAI's ChatGPT, leading to controversies, including racially inaccurate image generations. Google has since suspended its image generating software and limited its chatbot from generating answers related to global elections this year. Critics argue Gemini and similar AI could influence user opinions and biases, raising concerns about AI's role in shaping thoughts and democracy.

Portfolio Pulse from Natan Ponieman

March 13, 2024 | 3:21 pm

PIII

P3 Health Partners Inc. announced it will delay its Annual Report filing due to the need for more time to finalize its 2023 Financial Statements and disclosures. The company also revealed ongoing material weaknesses in its internal controls over financial reporting and anticipates disclosing substantial doubt about its ability to continue as a going concern, citing insufficient cash resources to support operations for the next 12 months.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:13 pm

FXI

SPY

A TikTok spokesperson has labeled a recent U.S. House bill as a 'ban' on the platform, expressing hope that the Senate will review the facts and listen to constituents before making a decision. The statement suggests TikTok is actively seeking to influence legislative outcomes in the U.S. to avoid potential restrictions or a ban.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:03 pm

META

The U.S. House of Representatives passed a bill requiring ByteDance to sell TikTok or face a U.S. ban, affecting 150 million users. The bill, supported by 352 votes, now moves to the Senate. Arguments varied, with some citing national security concerns and others economic harm and free speech risks. Rep. Massie criticized the bill as beneficial to rival Meta Platforms (META).

Portfolio Pulse from Neil Dennis

March 13, 2024 | 3:03 pm

NEE

NextEra Energy's stock is trading higher following the Federal Election Commission's decision to close a file on a complaint alleging campaign finance violations against the company.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:00 pm

AMZN

GOOGL

META

PINS

RUM

SNAP

SPY

Leaders of the U.S. Senate Intelligence Panel have jointly stated their anticipation for passing a TikTok bill through the Senate and having it signed into law. This development could have implications for major tech companies and the broader market.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:49 pm

EWU

The UK government plans to amend laws to prohibit foreign states from owning, influencing, or controlling British newspapers, as reported by Sky News.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:47 pm

SNAP

Snap shares are trading higher after the US House passed a bill that mandates TikTok to divest from ByteDance or face a ban, potentially reducing competition for Snap.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:44 pm